I think that there will be many pissed and dissapointed people, when it's revealed that it's just a big upgrade to the current Source engine.

I'm just speculating based on these rumors to form an opinion on their trustworthiness. ATM everything is so intransparent that I'll just wait for a statement from Valve.
I am a tiny bit excited about a possible Hammer update tho, because I'd very much like to revise my Portal 2 maps without having to go through the current Hammer nightmare.

I don't see what's the big deal about this. Valve is obviously working on their engine and if you thought that the next HL installment would run on their current mediocre version of Source after all this hype, you didn't think about it much.

Seriously, this is nothing. Valve has been "leaking" leftovers into game files for quite some time now. We didn't get shit out of this except for a title.

My problem with full dynamic real-time lighting is that everybody gets all lacksadaisy about it, but then it turns out that it looks worse than baked lighting. Such a lighting system usually entails a real-time occlusion system also (which would be fantastic) and it's much better for level designers also, as you can just plop stuff into the game instantly.

I don't think they need to reinvent the wheel and create a completely new level editor (but from the looks of it they will), as Hammer is an extremely powerful tool, but at the end of the day it's probably better for all of us. I must be one of the few who doesn't want a new level editor, at least not entirely, because I'm very good at using Hammer.

PS. Hammer does actually have a lighting preview feature, it's just not very good as it doesn't compute skybox light.

I honestly wouldn't care if they added some gimmick feature to make games look sort of newer as long as they give us an entire new SDK
I refuse to believe Valve still uses the Hammer we use. It is a powerful tool and great stuff can come from it but it's incredibly not user friendly and overall dated looking

My problem with full dynamic real-time lighting is that everybody gets all lacksadaisy about it, but then it turns out that it looks worse than baked lighting. Such a lighting system usually entails a real-time occlusion system also (which would be fantastic) and it's much better for level designers also, as you can just plop stuff into the game instantly.

I don't think they need to reinvent the wheel and create a completely new level editor (but from the looks of it they will), as Hammer is an extremely powerful tool, but at the end of the day it's probably better for all of us. I must be one of the few who doesn't want a new level editor, at least not entirely, because I'm very good at using Hammer.

PS. Hammer does actually have a lighting preview feature, it's just not very good as it doesn't compute skybox light.

A "scripting" system similar to Cryengine's Flownodes would be brilliant instead of the tedious entity work.
I agree though, Hammer is one of the most enjoyable editors to work with, mainly because of the brushwork.
Doesnt limit you to using models which is especially good when you cant model for shit.

...there’s a good chance that the big story about Source 2 might include a shift to OpenGL rather than DirectX, making Linux, in Valve’s eyes at least, the “next-gen” of PC gaming.

With the current version of Source considered, by Valve, to be a distinct entity from the first release in many ways, for any possible “next-gen” Source 2 to be a graphical update, no matter how significant, might be seen as a deviation from the company’s previous philosophy concerning their engine. A change of focus to OpenGL and Linux seems like a much more fundamental generational change than new technology, which Valve has been providing for years without feeling the need to stick a number on the end of their engine.

Anyone got the feeling that they are dropping brush support and instead using meshes? (I don't really know, just an idea, don't hammer me please)

BSP geometry is nice for people that can't model (and for people that can as well), but I really hope they get a better pipeline to get models into the game. Oh and be able to rescale models in the editor.